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Case 1:20-bk-12043 Doc 643 Filed 03/03/21 Entered 03/03/21 18:42:10 Desc Main <br />Document Page 6 of 20 <br />11. The bases for the relief requested herein are sections 361, 363(b), 363(c), 364(d), <br />507, and 507 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532 (the "Bankruptcy <br />Code"), Rule 2002 and 9014 of the Federal Rules of Bankruptcy Procedure (the "Bankruptcy <br />Rules"), the Local Bankruptcy Rules for the Southern District of Ohio (the "Local Bankruptcy <br />Rules") and the Final DIP Order. <br />Background <br />12. Prior to the commencement of these chapter 11 cases, Cortland was the <br />administrative agent and collateral agent pursuant to the Debtors' Prepetition Credit Agreement, <br />dated as of December 27, 2017. At that time, Cortland was an industry -leading, independent <br />investment servicing company providing third -part fund administration and middle and back - <br />office outsourcing to financial institutions, including for as the Prepetition Lenders under the <br />Prepetition Credit Agreement. <br />13. On March 22, 2018 Alter Domus, a Luxembourg -based provider of Fund and <br />Corporate Services to alternative investment managers completed its acquisition of Cortland, and <br />Cortland's business was re -branded under the "Alter Domus" name as Alter Domus (US) LLC for <br />all new agency deals following this acquisition. <br />14. On July 22, 2020 (the "Petition Date"), each Debtor filed a voluntary petition for <br />relief pursuant to chapter 11 of the Bankruptcy Code in this Court. <br />15. In connection with the DIP Facility, the DIP Lenders asked Cortland/AD to have <br />Alter Domus (US) LLC serve as the DIP Administrative Agent and the DIP Collateral Agent. <br />16. On July 30, 2020, the United States Trustee appointed the Official Committee of <br />Unsecured Creditors (the "Committee"). <br />26594115v.2 <br />